Posted 1/24/2024, 2:51:00 PM
U.S. Economy Showing Faster Growth and Cooling Inflation to Start 2023
- U.S. economy showed signs of faster growth in January based on S&P business surveys
- Services and manufacturing PMIs rose to 7-month and 15-month highs respectively in January
- First indicators for 2023 show steady economic growth and slowing inflation
- Fed interest rate hikes combined with potential rate cuts soon could further support the economy
- Stock markets rallied to new record highs on expectations of interest rate cuts and prolonged expansion